{"id":25327,"date":"2023-07-10T12:39:04","date_gmt":"2023-07-10T12:39:04","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2023\/07\/10\/standard-chartered-revises-bitcoin-btc-price-prediction-to-50000-120k-in-2024\/"},"modified":"2023-07-10T12:39:04","modified_gmt":"2023-07-10T12:39:04","slug":"standard-chartered-revises-bitcoin-btc-price-prediction-to-50000-120k-in-2024","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2023\/07\/10\/standard-chartered-revises-bitcoin-btc-price-prediction-to-50000-120k-in-2024\/","title":{"rendered":"Standard Chartered Revises Bitcoin (BTC) Price Prediction To $50000, $120K In 2024"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p>Standard Chartered Bank has revised its earlier prediction of a $100,000 Bitcoin worth by 2024-end because the \u201ccrypto winter\u201d was over. Now, the financial institution forecasts that Bitcoin worth can attain $50,000 by the top of this yr and surpass $120,000 by subsequent yr. This upward projection comes because the financial institution\u2019s analysts anticipate elevated hoarding of Bitcoin by miners.<\/p>\n<h2>Standard Chartered Raises Bitcoin Price Forecasts To $120K<\/h2>\n<p><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">$800 billion Standard Chartered Bank <\/span>predicted that Bitcoin could attain $50,000 this yr and $120,000 by the top of 2024.\u00a0The financial institution predicts that rising BTC costs may encourage bitcoin miners to carry extra of the Bitcoin provide.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<p>In April, Standard Chartered launched a forecast as \u201c<a href=\"https:\/\/coingape.com\/glossary\/crypto-winter-2\/\" target=\"_blank\" rel=\"noopener\">crypto winter<\/a>\u201d was over. It predicted Bitcoin worth <a href=\"https:\/\/coingape.com\/web-stories\/standard-chartered-predicts-bitcoin-to-reach-100000\/\" target=\"_blank\" rel=\"noopener\">hitting $100,000<\/a> by the top of 2024. However, the financial institution\u2019s high international trade analyst Geoff Kendrick stated there&#8217;s a 20% upside to the sooner prediction because of Bitcoin miners holding extra BTCs.<\/p>\n<p>\u201cIncreased profitability for miners to mine Bitcoin means they can reduce sales while maintaining cash inflow, reducing the net supply of Bitcoin and driving up Bitcoin\u2019s price,\u201d <a rel=\"nofollow noopener\" href=\"https:\/\/www.reuters.com\/technology\/standard-chartered-bumps-up-bitcoin-forecast-120000-2023-07-10\/\" target=\"_blank\">said<\/a> Kendrick.<\/p>\n<p>In reality, <a href=\"https:\/\/coingape.com\/just-in-crypto-funds-record-another-week-of-inflow-bitcoin-monthly-macd-turns-green\/\" target=\"_blank\" rel=\"noopener\">crypto asset inflows<\/a> for 3 consecutive weeks and the month-to-month MACD turning inexperienced point out a optimistic outlook for Bitcoin worth. Crypto asset funding merchandise noticed a web influx of $136 million final week.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<p><a href=\"https:\/\/coingape.com\/price\/bitcoin\" target=\"_blank\" rel=\"noopener\">BTC price<\/a> presently trades at $30193, transferring sideways up to now 24 hours. The 24-hour high and low are $29985 and $30427, respectively. However, the buying and selling quantity has elevated by 30% up to now 24 hours, indicating an curiosity amongst merchants.<\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<p><strong>Also Read: <a href=\"https:\/\/coingape.com\/south-korea-court-holds-first-trial-of-terra-co-founder\/\" target=\"_blank\" rel=\"noopener\">South Korean Court Holds First Trial Of Terra Co-Founder<\/a><\/strong><\/p>\n<h2>Bitcoin Hash Rate Hits ATH<\/h2>\n<p><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">While miners put together to carry extra BTCs, bitcoin mining problem stays difficult. On-chain knowledge platform Glassnode <a rel=\"nofollow noopener\" href=\"https:\/\/twitter.com\/glassnode\/status\/1678345959191838720\" target=\"_blank\">reported<\/a> the Bitcoin <\/span><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\">Hash Rate (7DMA) continues its upside transfer, reaching an ATH worth of 395 EH\/s. This is equal to 395 quintillion guesses each second in an try to unravel a Block.<\/span><\/p>\n<figure style=\"width: 749px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" alt=\"Bitcoin Hash Rate\" width=\"749\" height=\"431\" src=\"https:\/\/pbs.twimg.com\/media\/F0qtyiZX0AEt79V?format=jpg&amp;name=4096x4096\"\/><noscript><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pbs.twimg.com\/media\/F0qtyiZX0AEt79V?format=jpg&amp;name=4096x4096\" alt=\"Bitcoin Hash Rate\" width=\"749\" height=\"431\"\/><\/noscript><figcaption class=\"wp-caption-text\">Bitcoin Hash Rate. Source: Glassnode<\/figcaption><\/figure>\n<p>The U.S. is the most important crypto and Bitcoin mining nation globally. While Bitcoin mining requires extra electrical energy, switching to renewable sources of power opened doorways to local weather change mitigation through the use of sources similar to methane gasoline emissions.<\/p>\n<p><strong>Also Read: <a href=\"https:\/\/coingape.com\/bitcoin-price-must-clear-this-resistance-to-regain-bullish-momentum-bulls-set-eyes-on-48k\" target=\"_blank\" rel=\"noopener\">Bitcoin Price Must Clear This Resistance To Regain Bullish Momentum \u2013 Bulls Set Eyes On $48k<\/a><\/strong><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<div class=\"quads-location quads-ad86313 \" id=\"quads-ad86313\" style=\"float:none;text-align:center;padding:0px 0 0px 0;\">\n<!--   --><\/p>\n<p><!-- \n\n<div class=\"ad-container-layout\">\n      \n\n<div class=\"ad-container\">\n        <a href=\"https:\/\/bit.ly\/3JbHb8M\" target=\"_blank\" rel=\"nofollow noopener\">\n          <img decoding=\"async\" alt=\"bitget-images\" class=\"ad-image\" style=\"\n    width: 95%;\n\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/06\/05005321\/bitget11-1.png\"><noscript><img decoding=\"async\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/06\/05005321\/bitget11-1.png\" alt=\"bitget-images\" class=\"ad-image\" style=\"\n    width: 95%;\n\"><\/noscript>\n        <\/a>\n        \n\n<div class=\"ad-content\">\n          <a href=\"https:\/\/bit.ly\/3JbHb8M\" target=\"_blank\" rel=\"nofollow noopener\">\n            <span class=\"ad-title\">Bitget is a Leading Derivatives Trading Platform. Sign up & Trade Digital Asset!<\/span>\n          <\/a>\n          \n\n<div class=\"ad-button\">\n            <a href=\"https:\/\/bit.ly\/3JbHb8M\" target=\"_blank\" rel=\"nofollow noopener\">Join Now<\/a>\n            <span>Ad<\/span>\n          <\/div>\n\n\n        <\/div>\n\n\n      <\/div>\n\n\n    <\/div>\n\n --><\/p>\n<div class=\"text-ad-container\">\n<div class=\"text-ad-img-container\">\n<a href=\"http:\/\/bit.ly\/3NrNvez\" rel=\"nofollow noopener\" target=\"_blank\"><img decoding=\"async\" alt=\"Mooky Presale\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/03\/03164133\/Rectangle-20879.png\"\/><noscript><img decoding=\"async\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/03\/03164133\/Rectangle-20879.png\" alt=\"Mooky Presale\"\/><\/noscript><\/a>\n<\/div>\n<p><span class=\"text-ad\">AD<\/span>\n<\/div>\n<\/div>\n<p>          <!-- \n\n<div class=\"m-on pl-2 pr-2\">\n            \n\n<div class=\"row\">\n            \n\n<div class=\"col-6 pr-2\">\n         \n\n<div class=\"Borderboxies_2 mb-3  fullmobx\">\n             \n            <a href=\"https:\/\/coingape.com\/top-7-crypto-marketing-firms-of-the-year\/?utm_source=abovesidebartabnews&utm_medium=organicarticle\">\n            \n\n<div class=\"SponserdyWebimg_2\"><img loading=\"lazy\" width=\"834\" height=\"833\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/15175104\/top_crypto_marketing_agencies.jpg\" ><noscript><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/15175104\/top_crypto_marketing_agencies.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" ><\/noscript><\/div>\n\n\n                \n\n<div class=\"Sponserdtent_2 mt-2\">Top Crypto Marketing Firms \/ Agencies 2023; Here&rsquo;s Best Picks [Updated]\n <\/div>\n\n\n            <\/a>\n          \n            <\/div>\n\n\n            <\/div>\n\n\n                  \n\n<div class=\"col-6 pl-2\">\n                 \n\n<div class=\"Borderboxies_2 mb-3  fullmobx\">\n             \n            <a href=\"https:\/\/coingape.com\/top-10-web-3-games-to-explore-in-2023-here-list\/?utm_source=priceanalysisbar&utm_medium=organicarticle\">\n            \n\n<div class=\"SponserdyWebimg_2\"><img loading=\"lazy\" width=\"834\" height=\"833\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/23134356\/jpg_20221223_134223_0000.jpg\" ><noscript><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/23134356\/jpg_20221223_134223_0000.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" ><\/noscript><\/div>\n\n\n                \n\n<div class=\"Sponserdtent_2 mt-2\">Top 10 Web3 Games To Explore In 2023; Here List\n <\/div>\n\n\n            <\/a>\n          \n            <\/div>\n\n\n            <\/div>\n\n\n                <\/div>\n\n\n        <\/div>\n\n                    --><\/p>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA153821\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<p>Varinder has 10 years of expertise within the Fintech sector, with over 5 years devoted to blockchain, crypto, and Web3 developments. Being a expertise fanatic and analytical thinker, he has shared his information of disruptive applied sciences in over 5000+ information, articles, and papers. With CoinGape Media, Varinder believes within the large potential of those revolutionary future applied sciences. He is presently masking all the most recent updates and developments within the crypto business.                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/f187fb5b7b3b0b9367ef83384cb40d5f?s=400&amp;d=mm&amp;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\" src=\"https:\/\/secure.gravatar.com\/avatar\/f187fb5b7b3b0b9367ef83384cb40d5f?s=200&amp;d=mm&amp;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/f187fb5b7b3b0b9367ef83384cb40d5f?s=200&amp;d=mm&amp;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/f187fb5b7b3b0b9367ef83384cb40d5f?s=400&amp;d=mm&amp;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD153821\">\n<p>  The introduced content material could embody the private opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn&#8217;t maintain any accountability on your private monetary loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<p><!-- \n\n<div class=\"container p-1 mb-3  mt-4 \">\n    \n    \n     \n\n<div class=\"Maintitle clgrn border-0\">\n               <span>Crypto Stories<\/span>\n                    \n                    \n                    <a href=\"https:\/\/coingape.com\/web-stories\/\" class=\"viewAll p-0\">View all<\/a>\n                <\/div>\n\n\n     \n\n<div class=\"row mobileXS \">\n                     \n          \n\n<div class=\"item col-md-4\"> \n        \n\n<div class=\"Newseducation\">\n         \n\n<div class=\"Eduimg WduImg\">\n            <a href=\"https:\/\/coingape.com\/web-stories\/twitter-is-now-worth-just-33-of-elon-musks-purchase-price\/?utm_source=post&utm_medium=web-story\" target=\"_blank\" rel=\"noopener\">\n            \n\n<div class=\"edIm StoryWebimg\"><img loading=\"lazy\" width=\"640\" height=\"853\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720\" decoding=\"async\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/05\/31173623\/twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720.jpg\" \/><noscript><img loading=\"lazy\" width=\"640\" height=\"853\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/05\/31173623\/twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720\" decoding=\"async\" \/><\/noscript><\/div>\n\n\n                \n\n<div class=\"Educontent\">Twitter is now worth just 33% of Elon Musk&rsquo;s purchase price <\/div>\n\n\n            <\/a>\n            <\/div>\n\n\n        <\/div>\n\n\n        <\/div>\n\n\n          \n          \n  \n              \n          \n\n<div class=\"item col-md-4\"> \n        \n\n<div class=\"Newseducation\">\n         \n\n<div class=\"Eduimg WduImg\">\n            <a href=\"https:\/\/coingape.com\/web-stories\/will-cramer-curse-strike-again\/?utm_source=post&utm_medium=web-story\" target=\"_blank\" rel=\"noopener\">\n            \n\n<div class=\"edIm StoryWebimg\"><img loading=\"lazy\" width=\"640\" height=\"853\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"will_cramer_curse_strike_again_720\" decoding=\"async\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/05\/31165520\/will_cramer_curse_strike_again_720.jpg\" \/><noscript><img loading=\"lazy\" width=\"640\" height=\"853\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/05\/31165520\/will_cramer_curse_strike_again_720.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"will_cramer_curse_strike_again_720\" decoding=\"async\" \/><\/noscript><\/div>\n\n\n                \n\n<div class=\"Educontent\">Will Cramer Curse Strike Again? 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Now, the financial institution forecasts that Bitcoin worth can attain $50,000 by the top of this yr and surpass $120,000 by subsequent yr. This upward projection comes because the financial institution\u2019s analysts anticipate [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":25329,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"on","ocean_gallery_id":[],"footnotes":""},"categories":[3],"tags":[7454,20,31,6324,111,110,4779,2762],"class_list":["post-25327","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-120k","tag-bitcoin","tag-btc","tag-chartered","tag-prediction","tag-price","tag-revises","tag-standard","entry","has-media","owp-thumbs-layout-horizontal","owp-btn-normal","owp-tabs-layout-horizontal","has-no-thumbnails","has-product-nav"],"_links":{"self":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/25327","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/comments?post=25327"}],"version-history":[{"count":1,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/25327\/revisions"}],"predecessor-version":[{"id":25328,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/25327\/revisions\/25328"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/media\/25329"}],"wp:attachment":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/media?parent=25327"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/categories?post=25327"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json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